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Final Divorce Agreement
"I need a Final Divorce Agreement for a couple with two minor children, shared ownership of a family business valued at $2.5M, and a matrimonial home in Ontario, with provisions for joint custody and ongoing spousal support starting March 2025."
1. Parties: Identification of both spouses, including full legal names, addresses, and occupations
2. Background: Details of the marriage, separation date, and confirmation that reconciliation is not possible
3. Definitions: Definitions of key terms used throughout the agreement
4. Acknowledgments: Statements confirming independent legal advice, full disclosure, and voluntary execution
5. Mutual Release: Agreement to release each other from future claims except as outlined in the agreement
6. Division of Property: Detailed division of matrimonial property, assets, and debts
7. Matrimonial Home: Disposition or allocation of the matrimonial home
8. Financial Disclosure: Confirmation of full and frank financial disclosure by both parties
9. Tax Provisions: Handling of tax matters, including filing status and allocation of tax benefits
10. Dispute Resolution: Process for resolving future disputes related to the agreement
11. Amendment and Review: Provisions for modifying the agreement and periodic review if necessary
12. Governing Law: Specification that the agreement is governed by Canadian law and applicable provincial legislation
13. Severability: Provision stating that if any part of the agreement is found invalid, the rest remains in force
14. Execution: Signing requirements and effective date of the agreement
1. Child Custody and Access: Required if there are children - details of custody arrangement, access schedule, and decision-making responsibilities
2. Child Support: Required if there are children - details of child support payments, special expenses, and review mechanisms
3. Spousal Support: Required if spousal support is being paid - details of amount, duration, and review conditions
4. Life Insurance: Include when there are ongoing support obligations to secure their payment
5. Business Interests: Required if either party owns a business - details of business valuation and division
6. Pension Division: Include when either party has pension assets to be divided
7. International Aspects: Required if there are international elements such as foreign property or jurisdiction issues
8. Pet Custody: Include if there are pets whose custody needs to be addressed
9. Education Expenses: Required if there are agreements about future education expenses for children
10. Religious Divorce: Include if religious divorce proceedings are relevant to the parties
1. Schedule A - Assets and Liabilities: Detailed list of all matrimonial assets and liabilities with agreed values
2. Schedule B - Property Division: Specific details of how each asset and liability will be divided or allocated
3. Schedule C - Parenting Schedule: Detailed schedule for shared parenting time and special occasions if children are involved
4. Schedule D - Support Calculations: Detailed calculations for child and/or spousal support, including income information
5. Schedule E - Insurance Policies: List of insurance policies and beneficiary designations
6. Appendix 1 - Financial Statements: Current financial statements of both parties
7. Appendix 2 - Business Valuations: Professional valuations of any business interests if applicable
8. Appendix 3 - Pension Valuations: Professional valuations of pension and retirement accounts
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